 |
 |
Period of loan: Repayment holiday/ Moratorium : Course period +
1 year or 6 months after getting job, whichever
is earlier.
The loan to
be repaid in 5-7 years after commencement of repayment.
If the student is not able to complete the course
within the scheduled time, extension of time for
Completion
of course may be permitted for a maximum period
of 2 years. If the student is not able to complete
the course for reasons beyond his control, Sanctioning
Authority may, at his discretion, consider such
extensions as may be deemed necessary to complete
the course.
- The accrued interest during the repayment holiday
period to be added to the principal
and repayment in Equated Monthly Instalments(EMI)
is fixed.
- 1% interest concession may be provided for loanees
if interest is serviced during the study period
when repayment holiday is specified for Interest/repayment
under the scheme.
- PROCESSING CHARGES : No processing/upfront
charges are charged by the bank on Educational
loans.
|
|
| |
 |
|
Eligibility: The
student should be:
- An Indian National
- Have secured admission to professional/ technical
courses through Entrance Test /Selection process.
- Secured admission to foreign university/Institutions.
Amount of loan: Need
based finance subject to repaying capacity of
the parents/students with margin and the following
ceilings.
- Studies in India - Maximum Rs.7.50 lacs.
- Studies abroad - Maximum Rs.15 lacs.
Margin :
Inland (studies in India)
Upto
Rs. 4 lacs : Nil
Above Rs. 4 lacs : Studies in India : 5%
Studies Abroad : 15%
-
Scholarship/assistantship to be included in margin.
-
Margin may be brought in on year-to-year basis
as and when dibursements are made
on a pro-rata basis.
Rate of Interest :
Upto
Rs.4 lacs : PLR
Above Rs.4 lacs : PLR + 1%
|
|
| |
 |
|
Courses approved
a. Studies in India :
- School education including plus 2 stage.
- Graduation courses : BA, B.COM., B.Sc.,etc.
- Post Graduation courses : Masters & PhD.
- Professional courses : Engineering, Medical,
Agriculture, Veterinary, Law, Dental, Management,
Computer etc.
- Computer certificate courses of reputed institutes
accredited to Dept. of Electronics
or institutes affiliated to university.
- Courses like ICWA, CA, CFA etc
- Courses conducted by IIM, IISc, IIT, XLRI NIFT
etc.
- Courses offered in India by reputed foreign universities.
- Evening courses of approved institiutes.
- Other courses leading to diploma/ degree etc.
conducted by colleges
Universities approved by UGC/ Govt/AICTE/ AIBMS/ICMR
etc.
- Courses offered by National Institutes and other
reputed private institutions. [Banks may have
the system of appraising other institution courses
depending on future
prospects/recognition by user institiutions.]
b. Studies abroad :
- Graduation: For job oriented professional
technical courses offered by reputed universities.
- Post graduation: MCA, MBA, MS, etc.
- Courses conducted by CIMA- Loanon, CPA in USA
etc.
|
|
| |
